Being Injured in a Car Accident Can Raise Insurance Premiums
A recent insurance study
revealed that if a 45-year-old woman in Illinois with a perfect driving record and great credit had one accident
, her insurance rates could increase up to 35 percent.
The study by Quadrant Information Services looked at major carriers in all 50 states. The study assumed a $2,000 claim and the most common policy limits: $100,000 for one person's injury liability, $300,000 for all injuries, and a $500 deductible. The average increase in premiums after one fault accident was 41 percent. In the Illinois example, if a woman got into a second car accident, she would pay 104 percent more than a claim-free driver. In Massachusetts, it was found that having a single fault accident on your record would increase your premium by 76 percent.
This increase in premiums is not just if you were at fault. In many states, if you were injured in a car accident, filing a bodily injury claim could increase your premium as high as 86 percent. This, in part, is due to the fact that medical costs and personal injury claims are far more expensive than property damage claims on one's car.
High Costs of Insurance Premiums
For anyone who has been hurt in a car accident or had any reason to get medical treatment, this is no surprise. An industry-funded study
by the Insurance Research Council found that medical expenses are increasing faster than the rate of inflation. There were 2.36 million injuries in motor vehicle crashes in 2012. In 2012, the average auto liability claim for property damage was $3,073, but the average claim for bodily injury was $14,653.
Typically speaking, private insurers pay 50 percent of all motor vehicle accident costs and individuals pay about 26 percent. In accidents that are nearly fatal or cause serious injuries, 26 percent can be a significant amount of money. If you have been injured in a car accident, you may be entitled to have these costs covered by the other party. This includes medical bills, property damage, pain and suffering, lost wages, and other damages.
It is important you seek counsel from an experienced accident attorney who can walk you through the claims process and get the maximum amount of recovery for your injuries.
Contact Our Experienced Accident Attorneys
If you are in an accident, contact one of our experienced DuPage County car accident attorneys
. We have experience working with clients who have been injured in car accidents, and are prepared to help you in any way we can. Reach out to the Mevorah Law Offices LLC today for assistance.